James, who joined AFH over nine years ago, is currently group head of risk. Broad is currently head of advice and has been with the company for eight years. He has extensive experience within the sector as an independent financial advisor and is AFH's spokesperson on technical matters.

“Both have a detailed knowledge of AFH, having been instrumental in the growth and success of the business in recent years and bring exceptional sector and commercial experience to the board,” said AFH's chief executive, Alan Hudson.

“Their appointments reflect the importance that we place on our regulatory and technical responsibilities as a business.”

Last month, AFH Financial Group announced its chief investment officer, Toby Deanne, was leaving the business after four years.